KAPITOL - E
ActiveSummary
KAPITOL - E has been active since 2000 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €151,366 and a net result of €8,099. Equity remains stable across the filed financial years (±0.4% per year). Its solvency ranks better than 42% of 15,743 sector peers (NACE 69, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Financials · financial year 2025, micro format
2025 annual accounts filed late (15 days) Filed on 15 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00399946.
Turnover
≈ €75,000
Estimated: probably between €54,000 and €100,000
Total assets
€311,883▼ 5.9%
2024 · €331,492
Net result
€8,099▼ 0.8%
2024 · €8,167
Working capital
-€30,145▲ 40.2%
2024 · -€50,412
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result has fallen two years in a row; 2025 is 7% below 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€17,285
2025
Net result€8,099
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€311,883
2025
Equity€151,366
2025
Debt€160,517
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€30,145
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)2.6%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency48.5%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio0.36
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 69, Legal and accounting activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€18,594-€9,672▼ 48.0%€25,418▲ 163%€24,269▼ 4.5%€14,755▼ 39.2%€28,103▲ 90.5%€18,557▼ 34.0%€17,285▼ 6.9%
Net result€10,289-€4,587▼ 55.4%€15,541within the sector's middle half▲ 239%€14,764within the sector's middle half▼ 5.0%€8,173within the sector's middle half▼ 44.6%€16,188within the sector's middle half▲ 98.1%€8,167below the sector's middle half▼ 49.5%€8,099below the sector's middle half▼ 0.8%
Equity€141,348-€145,935▲ 3.2%€161,476within the sector's middle half▲ 10.6%€176,240within the sector's middle half▲ 9.1%€176,413within the sector's middle half▲ 0.1%€135,100within the sector's middle half▼ 23.4%€143,268within the sector's middle half▲ 6.0%€151,366within the sector's middle half▲ 5.7%
Total assets€186,185-€183,955▼ 1.2%€182,798within the sector's middle half▼ 0.6%€198,805within the sector's middle half▲ 8.8%€200,028within the sector's middle half▲ 0.6%€364,168within the sector's middle half▲ 82.1%€331,492within the sector's middle half▼ 9.0%€311,883within the sector's middle half▼ 5.9%
Debt€44,837-€38,020▼ 15.2%€21,322▼ 43.9%€22,565▲ 5.8%€23,615▲ 4.7%€229,068▲ 870%€188,224▼ 17.8%€160,517▼ 14.7%
Working capital€8,096-€14,769▲ 82.4%€30,887within the sector's middle half▲ 109%€50,398within the sector's middle half▲ 63.2%€55,086within the sector's middle half▲ 9.3%-€43,507below the sector's middle half-€50,412below the sector's middle half▼ 15.9%-€30,145below the sector's middle half▲ 40.2%
Solvency75.9%-79.3%▲ 3.4pp88.3%above the sector's middle half▲ 9.0pp88.6%above the sector's middle half▲ 0.3pp88.2%above the sector's middle half▼ 0.5pp37.1%within the sector's middle half▼ 51.1pp43.2%within the sector's middle half▲ 6.1pp48.5%within the sector's middle half▲ 5.3pp
Current ratio1.26-1.46▲ 0.202.60within the sector's middle half▲ 1.143.23within the sector's middle half▲ 0.633.33within the sector's middle half▲ 0.100.51below the sector's middle half▼ 2.820.33below the sector's middle half▼ 0.180.36below the sector's middle half▲ 0.04
Return on assets (ROA)5.5%-2.5%▼ 3.0pp8.5%within the sector's middle half▲ 6.0pp7.4%within the sector's middle half▼ 1.1pp4.1%below the sector's middle half▼ 3.3pp4.4%below the sector's middle half▲ 0.4pp2.5%below the sector's middle half▼ 2.0pp2.6%below the sector's middle half▲ 0.1pp
above
within
below
the middle half of NACE 69, Legal and accounting activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin not published: the micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €311,883
Fixed assets
€294,650 ▼ 4.0%
Current assets
€17,232 ▼ 30.2%
Equity and liabilities €311,883
Equity
€151,366 ▲ 5.7%
Debt
€160,517 ▼ 14.7%
Debt's share of the balance-sheet total falls from 56.8% to 51.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€29,453▼
2024 · €30,725
Cash flow
€20,267▼
2024 · €20,336
Debt to equity
1.06▼
2024 · 1.31
ROE
5.4%▼
2024 · 5.7%
Interest coverage
5.34▲
2024 · 4.70
Debt ≤ 1 year
€47,377▼
2024 · €75,085
Debt > 1 year
€113,139=
2024 · €113,139
Income taxes
€3,674▼
2024 · €3,852
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13,479 | €8,977 | €6,609 | €6,775 | €7,340 | €9,357 | €12,169 | €12,169 | = |
| Other operating charges640/8 | - | - | - | €1,537 | €1,504 | €673 | €1,294 | €841 | ▼ 35.1% |
| Gross operating margin9900 | €33,848 | €21,134 | €33,136 | €32,582 | €23,599 | €38,133 | €32,020 | €30,294 | ▼ 5.4% |
| Operating profit (loss)9901 | €18,594 | €9,672 | €25,418 | €24,269 | €14,755 | €28,103 | €18,557 | €17,285 | ▼ 6.9% |
| Financial income75/76B | - | - | - | €10 | - | €33 | €3 | €6 | ▲ 109% |
| Recurring financial income75 | €4 | €11 | - | €10 | - | €33 | €3 | €6 | ▲ 109% |
| Financial charges65/66B | - | - | - | €187 | €167 | €7,403 | €6,540 | €5,519 | ▼ 15.6% |
| Recurring financial charges65 | €1,263 | €610 | €295 | €187 | €167 | €7,403 | €6,540 | €5,519 | ▼ 15.6% |
| Profit (loss) for the period before taxes9903 | €17,335 | €9,073 | €25,124 | €24,092 | €14,587 | €20,733 | €12,020 | €11,772 | ▼ 2.1% |
| Income taxes67/77 | €7,046 | €4,486 | €9,583 | €9,328 | €6,414 | €4,546 | €3,852 | €3,674 | ▼ 4.6% |
| Profit (loss) for the period9904 | €10,289 | €4,587 | €15,541 | €14,764 | €8,173 | €16,188 | €8,167 | €8,099 | ▼ 0.8% |
| Profit (loss) for the period to be appropriated9905 | €10,289 | €4,587 | €15,541 | €14,764 | €8,173 | €16,188 | €8,167 | €8,099 | ▼ 0.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €186,185 | €183,955 | €182,798 | €198,805 | €200,028 | €364,168 | €331,492 | €311,883 | ▼ 5.9% |
| Fixed assets21/28 | €147,515 | €137,226 | €132,617 | €125,841 | €121,327 | €318,988 | €306,819 | €294,650 | ▼ 4.0% |
| Tangible fixed assets22/27 | €30,015 | €19,726 | €15,117 | €8,341 | €3,827 | €51,488 | €39,319 | €27,150 | ▼ 30.9% |
| Land and buildings22 | - | - | - | €1,766 | €1,566 | €1,366 | €1,166 | €966 | ▼ 17.2% |
| Furniture and vehicles24 | - | - | - | €6,575 | €2,261 | €50,122 | €38,153 | €26,184 | ▼ 31.4% |
| Financial fixed assets28 | €117,500 | €117,500 | €117,500 | €117,500 | €117,500 | €267,500 | €267,500 | €267,500 | = |
| Current assets29/58 | €38,670 | €46,730 | €50,181 | €72,963 | €78,701 | €45,180 | €24,673 | €17,232 | ▼ 30.2% |
| Amounts receivable within one year40/41 | €29,814 | €32,471 | €32,718 | €29,817 | €54,112 | €34,058 | €24,551 | €14,408 | ▼ 41.3% |
| Trade receivables40 | - | - | - | €20,817 | €41,527 | €28,591 | €12,938 | €6,933 | ▼ 46.4% |
| Other amounts receivable41 | - | - | - | €9,000 | €12,586 | €5,467 | €11,613 | €7,475 | ▼ 35.6% |
| Cash at bank and in hand54/58 | €8,856 | €14,259 | €17,463 | €43,146 | €24,589 | €11,122 | €122 | €2,825 | ▲ 23× |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €186,185 | €183,955 | €182,798 | €198,805 | €200,028 | €364,168 | €331,492 | €311,883 | ▼ 5.9% |
| Equity10/15 | €141,348 | €145,935 | €161,476 | €176,240 | €176,413 | €135,100 | €143,268 | €151,366 | ▲ 5.7% |
| Contributions10/11 | €51,200 | €51,200 | - | €51,200 | €51,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €90,148 | €94,735 | €110,276 | €125,040 | €125,213 | €128,900 | €137,068 | €145,166 | ▲ 5.9% |
| Non-distributable reserves130/1 | - | - | - | €2,475 | €2,475 | €2,475 | €2,475 | €2,475 | = |
| Reserves not available under the articles1311 | - | - | - | €2,475 | €2,475 | €2,475 | €2,475 | €2,475 | = |
| Distributable reserves133 | - | - | - | €122,565 | €122,738 | €126,426 | €134,593 | €142,692 | ▲ 6.0% |
| Amounts payable17/49 | €44,837 | €38,020 | €21,322 | €22,565 | €23,615 | €229,068 | €188,224 | €160,517 | ▼ 14.7% |
| Amounts payable after more than one year17 | €14,263 | €6,060 | €2,028 | - | - | €140,380 | €113,139 | €113,139 | = |
| Financial debts170/4 | - | - | - | - | - | €140,380 | €113,139 | €113,139 | = |
| Amounts payable within one year42/48 | €30,574 | €31,960 | €19,294 | €22,565 | €23,615 | €88,687 | €75,085 | €47,377 | ▼ 36.9% |
| Financial debts43 | - | - | - | €3,285 | €6,675 | €32,869 | €33,933 | €1,686 | ▼ 95.0% |
| Credit institutions430/8 | - | - | - | €3,285 | €6,675 | €32,869 | €33,933 | €1,686 | ▼ 95.0% |
| Trade debts44 | €4,085 | €4,103 | €3,766 | €3,518 | €6,335 | €1,763 | €2,363 | €21,706 | ▲ 819% |
| Suppliers440/4 | - | - | - | €3,518 | €6,335 | €1,763 | €2,363 | €21,706 | ▲ 819% |
| Advances received on contracts in progress46 | - | - | - | €110 | - | - | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €13,271 | €9,805 | €7,044 | €5,884 | €6,559 | ▲ 11.5% |
| Taxes450/3 | - | - | - | €13,271 | €9,805 | €7,044 | €5,884 | €6,559 | ▲ 11.5% |
| Other amounts payable47/48 | - | - | - | €2,381 | €799 | €47,011 | €32,905 | €17,426 | ▼ 47.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €10,289 | €4,587 | €15,541 | €14,764 | €8,173 | €16,188 | €8,167 | €8,099 | ▼ 0.8% |
| + Depreciation and write-downs630 | €13,479 | €8,977 | €6,609 | €6,775 | €7,340 | €9,357 | €12,169 | €12,169 | = |
| Operating cash flow (approximation) | €23,768 | €13,564 | €22,150 | €21,539 | €15,513 | €25,544 | €20,336 | €20,267 | ▼ 0.3% |
| Investment in fixed assets (approximation) | - | €1,313 | -€2,000 | €0 | -€2,826 | -€207,018 | €0 | €0 | - |
| Change in cash | - | €5,403 | €3,204 | €25,684 | -€18,557 | -€13,467 | -€11,000 | €2,703 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 25 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 15-08-2026 | 2026-00399946 |
| 31-12-2024 | micro format | 19-08-2025 | 2025-00381636 |
| 31-12-2023 | micro format | 17-08-2024 | 2024-00348439 |
| 31-12-2022 | micro format | 20-08-2023 | 2023-00336365 |
| 31-12-2021 | micro format | 31-08-2022 | 2022-20373938 |
| 31-12-2020 | micro format | 30-08-2021 | 2021-64900399 |
| 31-12-2019 | micro format | 11-09-2020 | 2020-52600524 |
| 31-12-2018 | micro format | 14-08-2019 | 2019-46000109 |
| 31-12-2017 | micro format | 08-09-2018 | 2018-62300371 |
| 31-12-2016 | micro format | 20-08-2017 | 2017-45600575 |
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Of the 12,107 active companies whose main activity is certified accountants and tax accountants (NACE 69201), figures are known for 7,767. 6,569 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Subsidies and aid
Flemish government
2022 to 2025 · 4 entries · €1,078 awarded · €1,078 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €252 | €252 |
| 2024 | 1 | €342 | €342 |
| 2023 | 1 | €266 | €266 |
| 2022 | 1 | €218 | €218 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.